Most people who are interested in starting their own companies are focused on building a successful track record that will allow them to stay in business long term. One of the main reasons why there are so many people that choose not to follow these dreams and turning them into realities is because of the fear of failure.
Studies have proven that over 30 percent of small businesses fail within the first two years, according to the Small Business Administration. However, a lack of substantial financing and excessive overhead expenses are two of the key factors that cause these businesses to close basically just as fast as they open. Opening an eCommerce business allows these individuals to fulfill their dreams and have a better chance of achieving success in the long run.
The magnetic appeal of eCommerce
With the increasing popularity of online shopping and the progressive advancements in mobile technology that have been made in recent years, there has never been a better time to get involved with eCommerce sales than right now. The number of people that use the Internet to shop for different products and services is expected to exceed 190 million people within the next three years with sales surpassing $320 billion, according to Mashable.com.
Therefore, not only would you be able to save a substantial amount of money on overhead expenses and other costs associated with traditional businesses, but you would also be positioning your business to make money in the years to come by doing so.
A growing network of support
Another key benefit that you can experience by opening an eCommerce business is the growing support network that can be easily accessed to assist you along the way. There is a wide variety of ecommerce forums and online support groups that are filled with members that either have had successful online businesses for many years or that are also interested in pursuing a career within this emerging market.
Many business owners have failed to achieve long-term success primarily because of their lack of expert assistance, knowledge and overall support. By relying on these forums to give you the guidance that you need, you will be able to make wise decisions and become more effective at increasing sales and maintaining a substantial profit margin.
The popularity of social media
Social networking websites have made it easier than ever for companies to reach new and existing customers and clients on a regular basis. Within the profile page of a Facebook account, for example, you will be able to market your products and services, advertise upcoming promotions and specials and stay in direct contact with your customers through real-time feedback and online messaging.
This will not only allow your company to become more efficient at fulfilling the needs of your customers but is a great way to market your business on a global scale as well. Traditional methods of advertising will never be able to generate the type of consistent exposure that is available through these online websites, so they can prove to be essential marketing tools for you and your company for many years to come.